Report on Voting From the 2022 Annual and Special Shareholders Meeting

CALGARY, Alberta, May 10, 2022 (GLOBE NEWSWIRE) — (TSX – NVA) NuVista Energy Ltd. (“NuVista“) announces that the following matters were approved at the annual and special meeting of the shareholders of NuVista held on May 10, 2022. Each of the matters is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Information Circular dated March 25, 2022 (the “Circular“).

1.        Fixing the Number of Directors

By resolution passed via ballot, the number of directors to be elected at the meeting was fixed at nine members. The results of the ballot were as follows:

    Votes For   Percent   Votes
Against
  Percent
    114,410,095   75.25%   37,622,903   24.75%

2.        Election of Directors

By resolution passed via ballot, the following nine nominees were appointed as directors of NuVista to serve until the next annual meeting of shareholders of NuVista, or until their successors are elected or appointed. The results of the ballot were as follows:

Name of Nominee   Votes For   Percent   Votes
Withheld
  Percent
                 
Pentti O. Karkkainen   111,194,606   73.14%   40,838,392   26.86%
Ronald J. Eckhardt   112,585,832   74.05%   39,447,166   25.95%
K. L. (Kate) Holzhauser   114,278,622   75.17%   37,754,376   24.83%
Keith A. MacPhail   102,906,178   67.69%   49,126,820   32.31%
Ronald J. Poelzer   110,819,425   72.89%   41,213,573   27.11%
Sheldon B. Steeves   113,205,653   74.46%   38,827,345   25.54%
Deborah S. Stein   113,165,933   74.44%   38,867,065   25.56%
Jonathan A. Wright   113,588,145   74.71%   38,444,853   25.29%
Grant A. Zawalsky   108,820,839   71.58%   43,212,159   28.42%

3.        Appointment of Auditors

By resolution passed via ballot, KPMG LLP, Chartered Professional Accountants, were appointed as auditors of NuVista to hold office until close of the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:

    Votes For   Percent   Votes
Withheld
  Percent
    148,210,041   96.65%   5,138,310   3.35%

4.        Non-Binding Advisory Resolution on Executive Compensation

By advisory resolution passed via ballot, NuVista’s approach to executive compensation was approved. The results of the ballot were as follows:

    Votes For   Percent   Votes
Against
  Percent
    113,847,636   74.88%   38,185,362   25.12%

5.        Approval of an Amendment to the Share Award Incentive Plan

By resolution passed via ballot, the amendment to NuVista’s share award incentive plan to increase the number of common shares issuable thereunder was approved. The results of the ballot were as follows:

    Votes For   Percent   Votes
Against
  Percent
    112,534,495   74.02%   39,498,503   25.98%

INVESTOR INFORMATION

NuVista is an independent Canadian oil and natural gas exploration, development and production corporation with its Common Shares trading on the Toronto Stock Exchange under the symbol “NVA”.

NuVista is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Our primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti and Pipestone area of the Alberta Deep Basin.

FOR FURTHER INFORMATION CONTACT:

Jonathan A. Wright Ross L. Andreachuk Mike J. Lawford
President and CEO VP, Finance and CFO Chief Operating Officer
(403) 538-8501 (403) 538-8539 (403) 538-1936


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